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what's going on guys candy here today
we're gonna be talking about small
business insurance I'm gonna show you
six different options you could choose
for your business why you need insurance
or where to get it how much should it
cost you make sure you hit the like
button if you haven't yet and if you
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every time I make a video I've been
trying to make a video daily make sure
you watch to the end and let's get into
this video hey guys welcome back so the
first thing I want to talk about is
business structure that is either an LLC
or a corporation now there are multiple
corporations to choose from S
corporation C corporation I'm not gonna
get into a specific corporations in this
video but I do got to tell you you need
to have one of the other if you ever get
a lawsuit in your business you're not
gonna lose any of your personal
properties no one can come for your
house or your vehicles that would be
strictly into your business if you're a
sole proprietor you're not covered under
this basis it's only a few hundred bucks
to get an LLC or corporation for your
business this will cover you for any
headaches in the future you definitely
want to involve your family or your
personal property you work so hard for
to lose it for something that happen on
a job site so make sure you get yourself
either an LLC or corporation breathing
between from an accident stuff this is
what insurance fills in the gap and
let's go through those insurances right
now okay so I want to show you that
three most important insurance at least
for our company
I want a tree service company like some
of you guys know the first one is
property insurance this will cover you
from death or damages to your property
whether it's your machines your chain
stocks etc number two is liability
insurance and I believe one of the most
important one this is where you are
covered on a job site if you were to
drop a tree on someone's property or
damage someone's car you are fully
covered
now most insurance companies that do
have what they call it deductible and
sometimes could be pretty high depending
on the kind of insurance you have if
your deductible is gonna be higher than
the damage is done then I would adjust
pay out-of-pocket we'd hit a couple of
fences before it set about small things
what I do is I just pay out of pocket
these are voids any insurance claim and
increasing my insurance premium over the
years so in the long run is cheaper just
to pay out of pocket obviously the best
thing you can do is try to avoid any
damages but of course
accidents happen it's part of life and
we can't avoid it but this is one of the
main reason you want to have insurance
just in the event in case you cannot
afford those damages number three its
workers comp you are required by federal
to have workers comp if you have
employees in your company to get injured
those employees could literally sue you
for negligence and then they could bury
you in legal fees
and medical bills so definitely make
sure you have workers comp also the
federal government requires that you you
provide unemployment and disability
insurance next thing is what factors
influence the cost of your insurance
other factors involved on this from your
type of business like example me again I
want in the tree service business or my
insurance is kind of high due to the
high risk also involves how many
employees do you have the kind of
equipment you have and the march to
drive every year this all affects the
cost of your insurance so now how do you
get insurance the first thing you want
to do is make sure you find a commercial
reputable agent agents make Commission
by finding you insurance so make sure
it's an agent are looking only for his
best for you for your best interest as
well make sure you don't go with the
first price make sure you shop around
there's different rates and and you know
policy costs so make sure you do your
research very good and trip around I
prefer to have a local insurance company
I don't like those online insurance I
don't know where there are who there are
and there's no office for me to go to so
I prepare pay a little more and get a
local insurance company make sure also
every year we asses your business if
you're growing tremendously you might
need different types of insurance so
make sure every year you reassess your
company and look through all the
paperwork and everything you have and
make sure you still have the proper
insurance company for your business you
don't want to have too little of
insurance but not also be paying extra
for stuff you really don't need and I'm
going to conclude with the rest of the
all the three insurance companies I'm
actually gonna go ahead and list all six
of them right here for you guys I just
talked about the three most important
one is what most service industries need
extra ones here therefore if you have a
Brita motor like an actual store etc
that doesn't apply to my kind of
business service industry where I go
serve the clients at their property they
don't come to me I'll produce the list
anyway so you guys cuz
run through because I did say that I was
gonna show you all six different ones
also guys I want to say that I'm
shutting down five minutes with Kenny
it's just not enough content in the
video to bring you guys volume idea was
to make a video on the five minutes and
it's just not enough time for me talk to
you and give you valuable content like I
want to do moving forward this is a new
show and if you wonder when the name is
it's gonna be a small business talk with
Kenny it's all gonna be about running
your small business like I do I'm gonna
show you about insurance taxes how to
open your business LLC corporation the
whole thing guys there's a lot of stuff
that goes into a small business and a
lot of us just don't know about it I
mean you know it's boring and dry and
want to read about it so I'm gonna come
on here and talk to you guys about it
you guys have any questions for me make
sure to hit the comments section if you
haven't yet hit that like button
subscribe and keep bringing the comments
cuz this is how I know what you guys
want me to make a video about this video
for example was made out of a comment
from one of the subscribers it concludes
this video guys I want to say I'm gonna
be making one of these videos every
Wednesday 9 p.m. Eastern Time
so make sure you tune in every Wednesday
to watch these kind of videos that show
again is gonna be called small business
talk with Kenny when I come on here and
talk about business how to open your
business structure for your business
taxes what to pay one not to pay the
whole thing hire employees I mean I'm
gonna go into everything there's a lot
of stuff on here that small business
owners don't know about we focus so much
on the tray and forget about the
business part and I understand it's
boring so I'm here to show you what
those are and please hit the comments
section if you have any comments for me
if you want me to make a specific video
on something wondering about I'll be
happy to do that for you guys make sure
you hit the like button subscribe in the
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and you know what guys I hope you enjoy
the show and I catch on the neck
[Music]
